German startup Syte, which develops an AI platform to optimize building stock analysis for construction and energy potential, has secured €5 million in a seed round. The investment was led by the Schwarz Gruppe, with participation from Vantage Value and vent.io.
- Founded in 2021 by Matthias Zühlke, Pascal Maas, and Michael Maas, Syte is a leading AI platform that analyzes building stock, focusing on construction and energy potentials. The platform offers real-time data analysis, featuring tools like the Portfolio Scan to evaluate real estate portfolios and identify funding opportunities.
- Syte's Search engine helps identify energy-efficient buildings and uses ESG analyses alongside the Profit Calculator to simplify profitability assessments for renovation, infill development, and subsidies.
"Our mission is to digitize and decarbonize the industry, providing real-time, AI-based insights for banks, brokers, developers, planners, and authorities. Our new product "syte Renovate" is set to transform the way we approach renovation planning, making sustainability a core component of investment decisions," CTO, Co-CEO, and Co-founder at syte, David Nellessen, commented.
Details of the deal
- The seed round was led by the Schwarz Gruppe, Europe’s leading retail group, known for its diversity, commitment to performance, and passion among its 575,000 employees across 32 countries.
- Additional support came from Eching-based VC Vantage Value, vent.io, and existing investors, including HTGF | High-Tech Gründerfonds, which has backed over 700 early-stage tech startups since 2005. The round also saw participation from investors Moritz Luck and Fabian Axthelm.
- With the capital raised, Syte will accelerate the development of its ENERsyte project to transform municipal heat planning and further enhance the real estate industry through AI-driven data platforms and B2B SaaS solutions.
